Costain, one of the UK's leading construction companies, has reported a profit of £19.8m before tax compared to a loss of £61.7m last year.

Chief Executive Andrew Wylie said: "The construction market has continued to consolidate and polarise towards a smaller number of larger contractors. Our strategy will ensue that Costain is one of those larger contractors."


The company said all of its operations had gained profit for the first time since 1990 and recommended the payment of a dividend for the first time in 17 years.

Costain said it achieved a profit in its oil, gas and process operations for the first time in six years.

The company, based in Maidenhead, said the business is in a strong position to seize opportunities in its markets, where growth is underpinned by major long-term spending commitments by target blue-chip customers, and is on course to deliver results in line with its expectations.

(CD/JM)